Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against KuCoin−0.131%7-day average −0.066% · you buy dearer than you sell

Net, funding: paid 7d − costs−$963as in the Funding arb table

Net, price: spread back to 7d avg − costs−$968as in the Price arb table

costs, in and out, $10k−$9629.619% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.011%−$1 on $10k

Price spread, last 4 days (all we have)+0.006%+$1 · spread now −0.131%, 7d avg −0.066%

Together, before fees−0.005%$0 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.065% cheaper against KuCoin than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.066%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin BASEDUSDTM	0.06873	0.0100	pay 0.0050% / 4h	3h 56m	$587K	$79K	20x
Short	Bybit BASEDUSDT	0.06864	0.0100	get 0.0050% / 4h	3h 56m	$2.1M	$681K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee KuCoinbpFee BybitbpOrdersPrice spread, now −0.131%Rate

Funding earned: $0
Price spread: −0.131% → −0.066%: −$6.52
Slippage, 4 orders: −$938.92
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$968.44
Costs to cover: 9.619%
Break-even: never at this rate

Slippage from KuCoin: live order book, 38 min ago; Bybit: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy KuCoin live order book, 38 min ago	31.46 bp	442.1 bp −$442	1021.0 bp −$10.2K	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	6.56 bp	78.1 bp −$78	1006.0 bp −$10.1K	doesn't fit	doesn't fit

BASED on 15 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BASEDUSDT	+0.0100%	4h	0.06873	+0.001%	$29K	$2K	5x	as long as short
Binance BASEDUSDT	+0.0100%	4h	0.06878	+0.067%	$4.3M	$3.0M	25x	as long as short
Bybit BASEDUSDTshort	+0.0100%	4h	0.06864	−0.131%	$2.1M	$681K	25x
OKX BASED-USDT-SWAP	+0.0100%	4h	0.06870	−0.044%	$2.7M	$3.8M	20x	as long as short
Gate BASED_USDT	+0.0100%	4h	0.06868	−0.073%	$537K	$572K	50x	as long as short
MEXC BASED_USDT	+0.0100%	4h	0.06879	+0.087%	$5.0M	$464K	50x	as long as short
KuCoin BASEDUSDTMlong	+0.0100%	4h	0.06873	long leg	$587K	$79K	20x
Bitget BASEDUSDT	+0.0100%	4h	0.06873	0.000%	$1.3M	$313K	25x	as long as short
BingX BASED-USDT	+0.0100%	4h	0.06872	−0.015%	—	$1.7M	—	as long as short
Variational Omni BASED	+0.0100%	4h	0.06854	−0.275%	$94K	$10K	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BASED_USDT_Perp	+0.0100%	4h	0.06863	−0.151%	$91K	$365K	10x	as long as short
SunX BASED-USDT	+0.0100%	4h	0.06865	−0.116%	$1K	$890K	20x	as long as short
Extended BASED-USD	+0.0104%	1h	0.06874	+0.016%	$4K	$257K	5x	as long as short
BloFin BASED-USDT	+0.0152%	4h	0.06870	−0.044%	$220K	$50K	25x	as long as short
Orderly PERP_BASED_USDC	+0.0331%	4h	0.06873	0.000%	$3K	$664	10x	as long as short